Bridgestone set to raise tire prices (again) on April 1st

No April Fool’s joke here – Bridgestone has announced that it will raise prices on wholesale tires yet again on April 1st, 2011. In an announcement, Bridgestone blamed “unprecdented” increases in raw materials and transportation costs. The 8% price hike will affect consumer replacement tires and original equipment tires in the U.S. and Canada.

“While we are always working to balance costs and deliver a premium package of value to our customers, these extraordinary increases in costs related to manufacturing make these price adjustments necessary,” says Larry Magee, BATO’s U.S. and Canada consumer tire president.

Bridgestone last raised prices on its wholesale Bridgestone tires on November 1st. That was also an 8% hike, but only affected U.S. markets.

What does this mean for businesses and consumers? Well, if you were in the market for Bridgestone tires, make sure to buy them as soon as possible. And if you’re an automotive business or tire retailer, make sure to stock up on popular wholesale Bridgestone tires before this hike has a chance to chip away at your profit margin!